Markets buoyed by Russia/Ukraine peace talks
The S&P/NZX 50 Index rose 125 points, or 1%, to 11,998.96. Turnover was $213 million.
The US Federal Reserve lifted cash rates for the first time since 2018, boosting them just 25-basis points overnight, as widely expected by the market.
The central bank governors predicted US cash rates to be near 2% by the end of the year, likely meaning six more hikes before Christmas.
Michael McCarthy, chief strategy officer at Tiger Brokers Australia, said the reason US markets rallied was news of a realistic peace plan forming between Russia and Ukraine.
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